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By *inaTitz OP TV/TS
over a year ago
Titz Towers, North Notts |
I've gone from being self-employed for 5 years to going on the books as of Jan 2nd.
I am on emergency tax at the moment and really glad I had the foresight to transfer a months' income over to cover everything and anything.
The Co. say it will sort itself out within the next couple of pay cycles.
Anyone else had long to wait?  |
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By *inaTitz OP TV/TS
over a year ago
Titz Towers, North Notts |
"The last time I was on emergency tax it was sorted the next pay day.
With the new real time tax it should only be one at emergency tax.
"
I'm happy at that. I'm not short or anything, but like to get what I should be earning. |
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Your case may be difficult, as presumably your SE accounts won't be up-to-date yet, so they wont know how much tax is already due. Be proactive and ring Inland Revenue and try to agree a tax-code based on your likely income for the whole of the current financial year.
You should be able to get it close, but expect it to be up and done until the end of the next financial year.
That's what I did, though be prepared for some lengthy phonecalls.
Mr ddc |
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"The last time I was on emergency tax it was sorted the next pay day.
With the new real time tax it should only be one at emergency tax.
"
^this!
Now the PAYE system has changed from last year it should be quite quick. I was put on emergency tax last July.
By September my tax code was correct, and they had adjusted the tax deducted to take into account the overpayment I had made. |
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Just re-read your post, and maybe it won't be so quick with you being self employed before. Can you get your tax return in earlier for part self-employed, part employed year (ie as soon as you get your P60) may speed things up? |
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By *icketysplitsWoman
over a year ago
Way over Yonder, that's where I'm bound |
"Your case may be difficult, as presumably your SE accounts won't be up-to-date yet, so they wont know how much tax is already due. Be proactive and ring Inland Revenue and try to agree a tax-code based on your likely income for the whole of the current financial year.
You should be able to get it close, but expect it to be up and done until the end of the next financial year.
That's what I did, though be prepared for some lengthy phonecalls.
Mr ddc"
I am self-employed but I had one client insisting on PAYE. Emergency tax was only one payslip.
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"
I am self-employed but I had one client insisting on PAYE. Emergency tax was only one payslip.
"
Me too, and still am.
Emergency tax is only the start, getting an acceptable tax code is the goal here.
They wanted to put me on effectively higher-rate tax for the PAYE stuff, then claim back any overpayments via my SE a year later. (Which was worse than emergency tax!)
Just advising to give them a ring, with estimates for gross earnings for the year. It works for me, and the people in IR are fine.
However, if you leave it to them, they will always want to take as much as they can!
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By *inaTitz OP TV/TS
over a year ago
Titz Towers, North Notts |
I'm hoping I'll be ok. I always did my tax returns as soon as possible and so on. I was expecting it to be far worse, with payroll deciding I'd worked less days, on a different rate, didn't exist, or a combination on all of the above.  |
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By *icketysplitsWoman
over a year ago
Way over Yonder, that's where I'm bound |
"
I am self-employed but I had one client insisting on PAYE. Emergency tax was only one payslip.
Me too, and still am.
Emergency tax is only the start, getting an acceptable tax code is the goal here.
They wanted to put me on effectively higher-rate tax for the PAYE stuff, then claim back any overpayments via my SE a year later. (Which was worse than emergency tax!)
Just advising to give them a ring, with estimates for gross earnings for the year. It works for me, and the people in IR are fine.
However, if you leave it to them, they will always want to take as much as they can!
"
My accountant is always trying to convince me to pay less. |
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By *icketysplitsWoman
over a year ago
Way over Yonder, that's where I'm bound |
"I'm hoping I'll be ok. I always did my tax returns as soon as possible and so on. I was expecting it to be far worse, with payroll deciding I'd worked less days, on a different rate, didn't exist, or a combination on all of the above. "
It'll be fine.
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By *andm288Couple
over a year ago
oxford |
When I went direct from being in self employment I never paid any tax untill the following April as they didn't know my self employed income from the current tax year
Then I de registered from being self employed
Hope you get it sorted soon !
M |
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By *hell82Woman
over a year ago
Bristol |
The last time I was on emergency tax it was sorted the next pay day.
With the new real time tax it should only be one at emergency tax.
I'm happy at that. I'm not short or anything, but like to get what I should be earning.
If you ring tax office they sort it there and then so on your Nxt pay day it will all be done  |
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